Question
On 9 November 2020, Jia Ltd issued a prospectus offering 200,000 ordinary shares at an issue price of $10.00 each, payable $5.00 on application, $3.00
On 9 November 2020, Jia Ltd issued a prospectus offering 200,000 ordinary shares at an issue price of $10.00 each, payable $5.00 on application, $3.00 on allotment and $2.00 on a future call. Applications closed on 30 November 2020 with the company having received applications for 200,000 shares. The shares were allotted on 15 December 2020. All allotment money was received by 15 January 2021. Following the receipt of the allotment money on 15 January 2021, what would be the total amount that would have been debited to Cash at Bank (Application and Allotment) for this share issue?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started